Corporate governance

Treasury’s corporate governance framework supports integrated planning, budget and performance management activities, and provides guidance to executive management teams and committees. It also informs the department’s risk management strategies.

Leading Treasury

As a central agency and the State’s financial and economic manager, Treasury provides leadership to other Queensland Government agencies.

Accountable to the Treasurer, Under Treasurer Helen Gluer sets the direction for Treasury. She is supported by Deputy Under Treasurers Alex Beavers and Ken Sedgwick, the Portfolio Management Group, committees and portfolio office executive management teams.

The Portfolio Management Group comprises the heads of each portfolio office and focuses on Treasury’s performance. Its main role is corporate governance and developing the department’s capability priorities, which support our corporate planning process. The group also determines operational policy and strategies to identify and manage key areas of risk and portfolio-wide issues.

Our Audit and Risk Management Committees provide strategic advice on audit and risk management issues to the Under Treasurer and the Portfolio Management Group. Each portfolio office in Treasury has its own executive management team which sets the strategic direction for the office.

Planning and resourcing

All of Treasury’s planning activities are directed towards achieving Queensland Government priorities and community stakeholder needs, and are based on an outcomes framework. These outcomes are based on the links identified in the Charter of Fiscal Responsibility.

The flow chart below shows the planning and reporting activities of Treasury and the links between them.

To ensure outcomes are achieved, each office develops an output plan which details its vision, mission, strategic business priorities, capability priorities and performance measures.

The capability priorities detail the resources, competencies and infrastructure needed to support the portfolio office so it can achieve its strategic business priorities and contribute to Treasury outputs.

Budgeting

Treasury resources are allocated to deliver the strategic business priorities identified during planning. A Service Delivery Statement is prepared to detail Treasury’s budget, performance and future objectives.

Monitoring performance

As a Queensland Government agency, Treasury bases its decisions on planning, resource allocation and management, monitoring and performance on the Queensland Government’s financial management framework.

Treasury has undertaken considerable work in recent years to strengthen financial accountability within Government by developing the Financial Accountability Act and working directly with agencies to meet their obligations.

Our performance is monitored externally through the Parliamentary Estimates Committee process and internally through the Portfolio Management Group.

Treasury is accountable to the Treasurer who reports on our performance against our Service Delivery Statement through the Parliamentary Estimates Committee process. In addition to the Parliamentary process, quarterly performance reports are also prepared for the Government.

Treasury’s performance is also monitored closely internally. Monthly finance reports are provided to the Under Treasurer.

Last reviewed 30 April 2012